Gallagher acquires German financial lines broker Köberich

A J Gallagher has acquired German specialty broker Köberich Financial Lines as it continues to expand in Europe.

Gallagher said the deal marks its first “on-the-ground” broking team in Germany, with Köberich bringing expertise in D&O insurance, cyber, warranties and indemnities, professional indemnity and crime insurance.

Harald Köberich, who founded the business in 2009, and his team will remain in their current roles and join Gallagher’s European operations under Alex Nagler. Nagler was appointed CEO of Gallagher in Europe in September to lead its expansion in the region.

“This is a fantastic addition to our European presence, with Germany earmarked as a key territory for us to build Gallagher’s presence in. This acquisition presents a great opportunity to enter into the German specialty financial lines market and enable the team to build on its offering through our existing global expertise,” Nagler said.

The German deal adds to Gallagher’s existing European presence in Sweden, Norway, Switzerland, Liechtenstein and Turkey.

Köberich’s team is based in Cologne, where its customer base ranges from energy and mining companies to construction, engineering and manufacturing.

Terms of the transaction were not disclosed.

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